BlackRock Inc. lowered its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,838,055 shares of the apparel retailer’s stock after selling 1,567,809 shares during the quarter. BlackRock Inc. owned approximately 10.22% of Urban Outfitters worth $219,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in Urban Outfitters by 12.5% in the 2nd quarter. LS Investment Advisors LLC now owns 9,488 shares of the apparel retailer’s stock worth $176,000 after purchasing an additional 1,052 shares during the period. Pacad Investment Ltd. bought a new position in Urban Outfitters in the 2nd quarter worth about $191,000. Oppenheimer Asset Management Inc. boosted its stake in Urban Outfitters by 0.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,691 shares of the apparel retailer’s stock worth $198,000 after purchasing an additional 43 shares during the period. Miles Capital Inc. boosted its stake in Urban Outfitters by 0.8% in the 1st quarter. Miles Capital Inc. now owns 8,470 shares of the apparel retailer’s stock worth $201,000 after purchasing an additional 70 shares during the period. Finally, ING Groep NV bought a new position in Urban Outfitters in the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 87.58% of the company’s stock.

Urban Outfitters, Inc. (URBN) opened at 23.13 on Friday. The stock’s 50 day moving average price is $22.13 and its 200 day moving average price is $20.64. The stock has a market capitalization of $2.54 billion, a PE ratio of 15.48 and a beta of 0.63. Urban Outfitters, Inc. has a 1-year low of $16.19 and a 1-year high of $40.80.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, August 15th. The apparel retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. Urban Outfitters had a return on equity of 13.61% and a net margin of 4.92%. The firm had revenue of $873.00 million for the quarter, compared to the consensus estimate of $860.80 million. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Urban Outfitters, Inc. will post $1.41 earnings per share for the current fiscal year.

Urban Outfitters announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 24th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

URBN has been the subject of several analyst reports. Citigroup Inc. restated a “neutral” rating and issued a $20.00 target price (down previously from $23.00) on shares of Urban Outfitters in a research note on Sunday, June 11th. MKM Partners restated a “sell” rating and issued a $16.00 target price (down previously from $19.00) on shares of Urban Outfitters in a research note on Monday, June 12th. Morgan Stanley restated an “equal weight” rating and issued a $17.00 target price (down previously from $19.00) on shares of Urban Outfitters in a research note on Monday, June 12th. Royal Bank Of Canada restated a “sector perform” rating and issued a $17.00 target price (down previously from $21.00) on shares of Urban Outfitters in a research note on Thursday, June 15th. Finally, BMO Capital Markets set a $20.00 target price on Urban Outfitters and gave the stock a “hold” rating in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.24.

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Urban Outfitters Profile

Urban Outfitters, Inc is a lifestyle specialty retail company. The Company operates through two segments: Retail and Wholesale. The Company’s Retail segment consists of its Urban Outfitters, Anthropologie, Free People, Terrain and Bhldn brands, whose merchandise is sold to its customers through retail stores, Websites, mobile applications, catalogs and customer contact centers.

Institutional Ownership by Quarter for Urban Outfitters (NASDAQ:URBN)

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